New Found Gold Corp. priced a bought deal public offering totaling approximately C$56,129,100 as per a prospectus supplement dated May 29, 2025, to its base shelf prospectus dated May 23, 2025. The offering includes 4,370,000 non-flow-through common shares (“HD Offered Shares”) priced at C$1.63 per share for gross proceeds of C$7,123,100, and 21,400,000 flow-through common shares (“FT Offered Shares”) qualifying under subsection 66(15) of the Income Tax Act (Canada), priced at C$2.29 per share for gross proceeds of C$49,006,000. The offering was made in all Canadian provinces and territories except Quebec and Nunavut.

The offering was conducted pursuant to an underwriting agreement between New Found Gold and a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and SCP Resource Finance LP, along with Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada, Inc., A.G.P. Canada Investments ULC, and ATB Securities Inc. The HD Offering Price and FT Offering Price were determined through arm’s length negotiations based on prevailing market conditions.

Legal counsel to New Found Gold was provided by Blake, Cassels & Graydon LLP in Canada and Paul, Weiss, Rifkind, Wharton & Garrison LLP in the United States. The underwriters were represented by Borden Ladner Gervais LLP (Canada) and Skadden, Arps, Slate, Meagher & Flom LLP (U.S.). All values are in Canadian dollars.